Today's Edition
ABU DHABI (WAM)
Fertiglobe on Tuesday announced that its Board of Directors has approved an interim cash dividend for H1 2024 of $150 million, equivalent to Dh551 million or 6.6 fils per share.
The dividend will be paid during October 2024 to shareholders of record as at 10th October 2024.
Fertiglobe’s robust balance sheet and effective cash flow management continue to enable the Company to pursue selective value accretive growth opportunities balanced with shareholder returns.
Including the announced dividend, Fertiglobe will have paid $2.42 billion in dividends since its initial public offering (IPO) in October 2021, representing one of the highest dividend yields and total return metrics in its sector.
Based on the interim dividend announced, the annualised dividend yield exceeds five percent, further reinforcing the Company’s commitment to delivering strong returns to shareholders.
Chief Executive Officer of Fertiglobe, Ahmed El-Hoshy, commented, “Fertiglobe’s approved interim dividend of $150 million is a testament to our resilient business model and our ability to sustain robust cash flow generation despite market volatility and a complex operating environment. This dividend is supported by active value creation initiatives launched in 2024, as we continue to make significant progress on our key strategic objectives.”
“Fertiglobe is entering a pivotal phase of growth, accelerating the development of a sustainable hydrogen value chain and expanding its global platform for ammonia and clean hydrogen solutions. With a focus on innovation and sustainability, we are well-positioned to capture new opportunities. Looking ahead, we remain focused on digitising our operations, harnessing the power of AI and driving innovation to boost cost efficiencies that will continue to generate sustainable and long-term value for our shareholders,” he added.
